Pupils to get more money advice

School pupils are set to receive more advice about money and personal finance as part of the new compulsory Personal, Social, Health and Economic (PSHE) education.

The PSHE curriculum will be compulsory from September 2011 and teachers in London and regions across the UK may be giving more lessons in personal financial capability, among other things.

Schools secretary Ed Balls said: "It's vital that all young people leave school with a basic understanding of how to manage their money sensibly."

He added that it is therefore highly important that teachers pass on information about pensions, responsible saving and how best to manage money.

The new curriculum will stretch through the entire schooling period, with the youngest children being taught about different coins and notes and those nearing the end of their education being taught about the impact financial problems can have on people and how to budget effectively.

Other curriculum changes have also recently been announced by the government. A drive to increase one-to-one tuition to prevent children in the first years of their schooling from dropping behind their peers has been confirmed this year.